11.3.1. The Skilled Person

A Scheme Report may only be made by a person (the Skilled Person):

(a) appearing to the AFSA to have the skills necessary to enable him to make a proper report;

and

(b) nominated or approved for the purpose, in writing, by the AFSA.

11.3.2. The Scheme Report

A Scheme Report must

• (a) be in a form approved by the AFSA;
• (b) include a reasoned opinion as to whether or not the scheme (if it is sanctioned by the Court) is expected to have any material adverse impact on any of the policyholders of the transferor or the transferee; and
• (c) include a reasoned conclusion as to whether (if the scheme is sanctioned by the Court) each AIFC-Incorporated Takaful Operator concerned with the scheme (whether as transferee or as transferor) will, taking the scheme into account, comply with the requirements of TRR.

11.3.3. The Scheme Summary

The Scheme Summary must

(a) contain sufficient information, in language that is clear, fair and not misleading, to enable policyholders to understand how they may be affected if the scheme is sanctioned by the Court;

(b) be prepared or approved by the Skilled Person; and

(c) be approved by the AFSA.